ECONOMY & MARKETS

Oil prices fell on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand.

Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand.

Oil prices fell slightly in early Asian trade on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S.

Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product demand weakens.

Australia's top central banker on Wednesday indicated a steady drum beat of interest rate rises were needed to stop a damaging inflationary cycle developing, and suggested rates could at least double from current low levels.

British employers agreed average pay rises of 4% with their staff in the three months to the end of June, the joint-highest since 1992 but falling further behind inflation, industry data showed on Wednesday.

Almost half of Britons are changing what they buy to feed their families as they try to navigate a worsening cost-of-living crisis, according to survey data published on Wednesday.

Argentina's peso surpassed the psychological barrier of 300 pesos per U.S.

British financial regulators will have to promote the global competitiveness of the country's financial sector, though a plan for more government oversight of their work has been put on hold for now, finance minister Nadhim Zahawi said on Tuesday.

Zambia's creditors are expected to commit to debt relief needed to unlock $1.4 billion from the IMF on Wednesday or Thursday, two sources familiar with the situation said, as the country and its lenders seek to end a drawn-out restructuring process.

Zambia's creditors are to commit to debt relief needed to unlock $1.4 billion from the IMF in the next day or two, a source familiar with the situation said on Tuesday, as the country and its lenders seek to end a drawn-out restructuring process.

Nigeria's central bank raised its benchmark lending rate to 14.0% from 13.0% in another effort to rein in soaring inflation, and warned of further tightening if prices continued rising.

Wall Street's main indexes rose on Tuesday as the earnings season moves beyond big banks, with investors keeping a close watch on the impact of higher inflation on demand even as a stronger dollar dents profits.

The main U.S. stock indexes extended gains on Tuesday as more companies reported better-than-expected earnings, offering some respite to investors worried about higher inflation denting the corporate bottomline.

Wall Street closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings ahead of expectations, offering some respite to investors worried about higher inflation denting the corporate bottomline.

U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline.

Investors' expectations of global economic growth and corporate profits have tumbled to the lowest on record

Americans' financial health held up well in the second quarter even as inflation sent gas and grocery bills higher and ate into savings for the first time since the pandemic, U.S.

Singapore's economic growth is expected to moderate further next year, tracking a slowdown in its major trading partners, while global inflation is expected to ease in 2023, the head of the city-state's central bank said on Tuesday.

Japan's economy is likely to grow at a slower pace than previously thought throughout the rest of the fiscal year, a Reuters poll showed, as growing risks of a global economic slowdown and supply woes torment Japanese exporters.

Ratings agency Fitch on Tuesday revised its outlook on Pakistan to negative from stable, citing a deterioration in the country's external liquidity position and financing conditions as well as the risks from renewed political volatility.

European shares slipped on Tuesday, while the dollar hovered below last week's peak, with investors eyeing central bank meetings this week for clues on market direction.

Asian shares slipped on Tuesday, following overnight declines on Wall Street and on renewed fears about outbreaks of COVID-19 in China while the dollar hovered below last week's peak, but traders' main focus was approaching central bank meetings.

Asian shares slipped on Tuesday, following overnight declines on Wall Street, and the dollar hovered below last week's peak, but traders' main focus was approaching central bank meetings and the early stages of the U.S.

Euro zone bond yields jumped and the euro rallied on Tuesday on news that the European Central Bank would discuss this week whether to raise rates faster than expected, while equity markets turned positive after a shaky start to the day.

A global gauge of stocks headed for its biggest one-day percentage gain in nearly a month on Tuesday and the dollar fell for a third straight day as the door opened for the European Central Bank to enact a bigger rate hike than expected this week.

A global gauge of stocks notched its biggest one-day percentage gain in nearly a month on Tuesday and the dollar weakened for a third straight day as expectations grew for the European Central Bank to enact a bigger rate hike than expected this week.

The U.S. dollar hovered on Tuesday just above a one-week low reached overnight versus major peers as markets reduced the odds of a percentage-point Federal Reserve rate hike this month.

The dollar slipped against the euro for a third straight session on Tuesday, following a Reuters story that European Central Bank policymakers are considering raising interest rates by a bigger-than-expected 50 basis points at their meeting on Thursday to tame record-high inflation.